Credit Score Myth #1
Paying off a past due account will delete the negative account from your credit report. A late payment is a late payment. When you pay off an outstanding debt, it will still show on your credit report as a negative listing, even though it was paid.
Credit Score Myth #2
Bankruptcies and foreclosures cannot be deleted from a credit history. These types of negative listings on your credit report can be deleted. There are companies who specialize with getting negative listings deleted, including bankruptcy and foreclosures. Although you can educate yourself and try to get these negative credit listings removed by yourself, it is recommended you enlist a specialist to do this for you.
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